Tow Tractors Market Size, Share, Statistics, Trend Analysis and Forecast Report, 2020 - 2027

Tow Tractors Market is segmented by Product Type (Pedestrian Towing Tractors, Stand-in Towing Tractors, and Rider-seated Towing Tractors), and by Load Capacity (Light-duty Tow Tractors, Medium-duty Tow Tractors, and Heavy-duty Tow Tractors), and by Distribution Channel (Direct Sales [OEM] and Indirect Sales), and by Power Source (Electric and Fuel), and by Application (Railway Stations, Airports, Supermarkets, Industries, Warehouses, Distribution Centers, Military Cargo Stations, and Others), and by Region (United States, Canada, Mexico, France, Germany, Italy, Spain, United Kingdom, Russia, China, India, Philippines, Malaysia, Australia, Austria, South Korea, Middle East, Japan, Africa and Rest of World)

  • Report ID : MD2278
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  • Pages : 267
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  • Tables : 85
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  • Formats :

Tow Tractors Market size shall reach a value of $2x61.4 Million in 2027, growing with a CAGR of 12.13% during the forecast period of 2020 to 2027.

Market Definition / Research Scope

Tow tractors are the vehicles that are used for transportation of loads at workstations or warehouses. They are mostly utilized for small loading areas, steel ramps, narrow paths or uneven surfaces to enable easy transportation. They increase productivity, reduce operational costs, and ensure product safety in the warehouses, distribution centers, and material handling industries. There are various types of tow tractors; pedestrian towing, stand-in towing, and rider-seated towing. They can either be fuel powered or electric.
Tow tractors carry light weight or heavy weight loads that can either be palletized, un-palletized and roller-caged. They are applied in railway stations, airports, supermarkets, industries, distribution centers and warehouses.
The market is highly concentrated with top market players taking up 35%-40% of the market share.
In 2016, TUG Technologies Corporation launched the M7, which is a new electric tow tractor. Prior to that, in 2014, E-Z-Go had acquired TUG Technologies Corporation which is a leading manufacturer of ground support equipment in the aviation industry. The acquisition was to drive growth and expansion. In 2019, Skyway Aviation Handling Company Place(SAHCO) acquired a brand new fleet of Baggage tow tractors that have the capacity to convey up to 40 tonnes of cargo.

Tow Tractors Market Growth and Trends 

Driving factors for the industry :
• In now a days industrialization is growing rapidly among the developed countries as well as commercial and industrial sectors, we can realise how the automation and the technical abilities can be applied to modify or enhance the warehouse and storage facilities which directly increase the growth of towing tractors market.
• As the logistics and transportation industry is growing at a rapid speed for which we can no figure out the increasing number of warehouse and distributing centres etc. across the globe.Additionally, the growing trade of industrial and commercial products are projected increase the demand for transportation and storage facilities. With the help of these factor we can now differ the increase the demand of Tow Tractor which was previously predicted at a significant rate. For further, tow tractors offer easy storage and better transportation operation in a distribution centre.
• Increase use of tow tractors which can easily reduce the operational cost and increase the productivity and also use of tow tractor to reduce the labour and to save the time of transportation is augmenting in the growth of the tow tractors market. That’s why rising demand of tow tractors among the end-users can greatly boost the growth of the market.

Challenges for the industry :
• Although, the high maintenance cost and initial investment of tow tractors can easily hamper the growth of the tow tractors market within the short period of time.
• Due to lack of innovation and research &development(R&D) for the industrial tow tractor industries, original equipment manufacturers need to heavily invest lots of time and R&D to improve the ability of the industrial tow tractors, Such as lifting heavy loads and to improve its turnaround time. As one can easily understand that the highly automated tow tractors have higher installation cost than the other industrial vehicles. Also these vehicles have not yet known to the emerging market, which include a huge share in the global commercial market. As a result the high installation cost is the major point for resisting the manufacturers to step into the Asia-Pacific market particularly in countries such as China and India.
• Aircrafts used their own fuel to travel from airport entrance to runways. However, this became uneconomical as the type of taxation, depending on the aircraft size and distance, resulted in huge consumption of fuel in aircrafts. Henceforth, the demand for alternative fuel motors might stimulate the downfall in the Aircraft Tow Tractor market.

Tow Tractors Market Regional Analysis
Tow Tractors Market Share and Competition
Key companies operating in this industry are: Alke, Bradshaw Electric Vehicles, Eagle Tugs, Godrej Material Handling, Helge Nyberg AB, Hyster, JBT, Jungheinrich AG, Linde Material Handling, Motrec International Inc., Polaris Inc., Polaris Industries, Inc., Simai SPA, SPAN Trading LLC., Taylor-Dunn, The Raymond Corporation, and Toyota Material Handling.

Tow Tractors Market Research Report Analysis Highlights
• Historical data available (as per request)
• Estimation/projections/forecast for revenue and unit sales (2020 – 2027)
• Data breakdown for every market segment (2020 – 2027)
• Gross margin and profitability analysis of companies
• Price analysis of each product type
• Business trend and expansion analysis
• Import and export analysis
• Competition analysis/market share
• Supply chain analysis
• Client list and case studies
• Market entry strategy

Industry Segmentation and Revenue Breakdown
Product Type Analysis (Revenue, USD Million, 2020 - 2027)
• Pedestrian Towing Tractors
• Stand-in Towing Tractors
• Rider-seated Towing Tractors

Load Capacity Analysis (Revenue, USD Million, 2020 - 2027)
• Light-duty Tow Tractors
• Medium-duty Tow Tractors
• Heavy-duty Tow Tractors

Distribution Channel Analysis (Revenue, USD Million, 2020 - 2027)
• Direct Sales [OEM]
• Indirect Sales

Power Source Analysis (Revenue, USD Million, 2020 - 2027)
• Electric
• Fuel

Application Analysis (Revenue, USD Million, 2020 - 2027)
• Railway Stations
• Airports
• Supermarkets
• Industries
• Warehouses
• Distribution Centers
• Military Cargo Stations
• Others

Region Analysis (Revenue, USD Million, 2020 - 2027)
• United States
• Canada
• Mexico
• France
• Germany
• Italy
• Spain
• United Kingdom
• Russia
• China
• India
• Philippines
• Malaysia
• Australia
• Austria
• South Korea
• Middle East
• Japan
• Africa
• Rest of World

Tow Tractors Market Companies
• Alke
• Bradshaw Electric Vehicles
• Eagle Tugs
• Godrej Material Handling
• Helge Nyberg AB
• Hyster
• JBT
• Jungheinrich AG
• Linde Material Handling
• Motrec International Inc.
• Polaris Inc.
• Polaris Industries, Inc.
• Simai SPA
• SPAN Trading LLC.
• Taylor-Dunn
• The Raymond Corporation
• Toyota Material Handling

Available Versions: -
United States Tow Tractors Market Research Report
Europe Tow Tractors Market Research Report
Asia Pacific Tow Tractors Market Research Report
India Tow Tractors Market Research Report

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